Cardiff Oncology Reports Q4 and FY 2023 Results and Provides Business Update

DENVER, Colo., Feb 29, 2024 (247marketnews.com)- Cardiff Oncology, Inc. (NASDAQ:CRDF) reported, after today’s market close, its fourth quarter and full year 2023 financial results, and provided a business update.

Cardiff Oncology is trading at $2.26, up $0.50 (+28.41), on1.7M aftermarket shares.

Cardiff’s cash and equivalents is $75 million, as of December 31, which, based on its current expectations and projections, provides the Company sufficient funding for its operations into the third quarter of 2025, while the interim topline data from first-line RAS-mutated mCRC trial is expected in mid-2024.

“2024 is a pivotal year for Cardiff Oncology and we are excited for our upcoming randomized data readout from our lead program in first-line mCRC later this year,” said Mark Erlander, Ph.D., Chief Executive Officer of Cardiff Oncology. “The mCRC data we shared in August 2023, and the ONSEMBLE data we are disclosing today, demonstrates onvansertib’s contribution to the standard of care of bevacizumab (bev) and chemotherapy in treating RAS-mutated mCRC. Given there have been no new therapies approved in this large cancer indication in the last 20 years, 2024 marks a critical step in realizing onvansertib’s potential to provide clinical benefit to the large number of newly-diagnosed RAS-mutated mCRC patients, and create value for the stakeholders in our company.”

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Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

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